NASSAU, BAHAMAS — In what was considered a near-record turnout, more than 70 Androsians packed a town hall meeting in North Andros to address the ongoing challenge of living and working on an island without brick-and-mortar banking facilities.
Attendees gathered to explore digital payment solutions presented by The Central Bank and various financial service providers. Vendors showcased a range of options, from credit and debit cards to online banking and digital wallets using SandDollar and other solutions.
The event was the second in a series of Family Island town halls, spearheaded by the Central Bank and the Clearing Banks Association as part of a “Live Digital” educational campaign. The campaign aims to build awareness of practical solutions to the frustration many have experienced in finding ways to pay or get paid.
Hosted by the Andros Chamber of Commerce, the expo drew attendees to a jam-packed meeting room at Island Comfort Bed & Breakfast. After a long drought of banking facilities and years of pleading for alternatives, Androsians were presented with a full array of digital banking options. Vendors included Cash-N-Go, SunCash, Fidelity Bank, and the Public Workers Credit Union. Every vendor left the event with new business, with one reportedly opening 10 accounts—a clear indication of the void left when traditional banks withdrew from Andros as part of a plan to reduce their physical presence on the Family Islands.
Central Bank Governor John Rolle, under whose leadership The Bahamas became the first country globally to introduce a government-backed digital currency, the SandDollar, said the event was an opportunity to explain in detail—and in person—a variety of payment solutions that could alleviate concerns about paying bills, depositing funds, arranging loans, or applying for credit.
“Hearing directly from financial services firms with a deeper understanding of products and platforms is extremely valuable to everyone here,” said Rolle.
SunCash Chief Operating Officer Shawn Smith described the turnout as “excellent,” emphasizing the importance of vendors meeting with the business community and individuals personally.
Smith’s sentiments were echoed by North Andros Administrator Beverly Laramore.
“A lot of the information shared today is new to the Andros community. We found out that some banks facilitate loan applications online,” Laramore said. “You can also open an account online. Many people here on Andros are unaware of these features. We also learned that utility bills can be paid through SunCash and Cash-N-Go. I know residents who signed up today because this is something we need. There is a lack of ATMs and commercial banking here, so now we see ways to pay utility bills, send cash to family members, or even receive that cash.”
The “Pay Fast, Live Digital” campaign is a two-year initiative designed to increase public comfort with digital payments, including credit cards, digital wallets, money transfers, cash apps, online banking, and peer-to-peer payments. The goal is to create a widespread understanding of how individuals can pay and receive payments digitally.
The next event, the largest planned gathering, is the “TECH EXPO” scheduled for September 26 at the British Colonial in Nassau, where several hundred attendees are anticipated.
